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A company incurred the following transactions: a. Wages of $1,100 accrued at the end of the prior fiscal period were paid this fiscal period. b.
A company incurred the following transactions:
a. Wages of $1,100 accrued at the end of the prior fiscal period were paid this fiscal period.
b. Real estate taxes of $3,050 applicable to the current period have not been accrued.
c. Interest on bonds payable has not been accrued for the current month. The company has outstanding $360,000 of
8.5% bonds.
d. The premium related to the bonds in part c has not been amortized for the current month. The current-month
amortization is $60.
e. Based on past experience with its warranty program, the estimated warranty expense for the current period should be
0.2% of sales of $522,000.
f. Analysis of the company's income taxes indicates that taxes currently payable are $79,200 and that the deferred tax
liability should be increased by $29,160.
a-2. Record the journal entries to show each transaction/adjustment. (If no entry is required for a transaction/event, select "No
journal entry required" in the first account field.)
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